Tungsten Hub in Yeongwol, MICE Infrastructure in Jeonju... Regional Development Project Sites Selected

by Choi Daeyul

Published 07 Aug.2025 11:20(KST)

Five Sites Selected as Investment Leading Zones, Twenty as Regional Demand Customized Support Projects

The Ministry of Land, Infrastructure and Transport announced on August 7 that, as a result of this year's regional development project competition, five sites have been selected for the Investment Leading Zone projects and 20 sites for the Regional Demand Customized Support projects. Last year, three sites and seven sites were selected for each project, respectively, but this year the scale has been significantly expanded. The Ministry expects that this competition will serve as a catalyst, as the new administration has made balanced regional development a key policy priority.

Yeongwol in Gangwon Province, selected as an Investment Leading Zone, will establish a tungsten-based core material complex essential for national advanced industries such as semiconductors, defense, and automobiles. An advanced materials center will be built to support industry-academia-research collaboration for research and development, with the goal of developing Yeongwol into a key mineral hub.

Jeonju in North Jeolla Province has proposed to build MICE (Meetings, Incentives, Conventions, and Exhibitions) industry infrastructure near KTX Jeonju Station and the intercity bus terminal. Namwon in North Jeolla Province plans to create a future industry cluster centered around KTX Namwon Station, where the Dalbit Railway and Jeolla Line high-speed rail intersect, linking drone technology, smart agriculture, and the bio industry.

Overview of the Advanced Industry Core Material Complex Investment Leading Zone to be established in Yeongwol, Gangwon. Provided by the Ministry of Land, Infrastructure and Transport

Goseong in South Gyeongsang Province will develop a healing town and customized residential complex connected to sports and tourism in the KTX Goseong Station area, which will be established with the opening of the Southern Inland Railway. Geochang was recognized for its plan to create an advanced general industrial complex linked to its existing elevator-related infrastructure, such as the specialized agricultural-industrial complex for elevators.

The Investment Leading Zone projects offer various benefits, including tax and fee reductions, as well as relaxed building coverage and floor area ratios. The aim is to promote regional growth and revitalize private investment. With the exception of Jeonju, the other four sites are underdeveloped areas and will receive up to 10 billion won in national funding.

For the Regional Demand Customized Support projects, there are 12 general-type sites eligible for up to 2.5 billion won in support and eight small-scale sites eligible for up to 700 million won. Yeongwol, Yeongdong, and Goheung will utilize existing idle land and facilities to provide necessary infrastructure for their regions. Danyang and Geochang will expand medical and welfare infrastructure.

For projects aimed at expanding tourism infrastructure, Taebaek, Jangsu, and Gokseong have been selected. The plan is to create new spaces or add specialized content centered around existing tourist attractions. Hadong and Gunwi will expand safety facilities. Uiseong, Cheongsong, and Yeongyang, which suffered wildfire damage in March this year, will focus on restoring and renovating existing buildings.

In addition, Cheongdo and Seocheon will carry out infrastructure projects to support return-to-farming and similar initiatives, while Buyeo, Jeongeup, and Tongyeong will create experience and relaxation spaces. Hampyeong will expand connecting roads to revitalize the old downtown area.

Lee Sangjoo, Director General for Land and City Policy at the Ministry of Land, Infrastructure and Transport, stated, "We hope that the results of this regional development project competition will serve as a catalyst for the new administration's balanced regional development policy," adding, "We will support the implementation of diverse and effective regional development projects to address the risk of regional extinction."